That's a *hell* of a lot of expensive...empty...office space.
Businessman said to the minister, “I need help! My warehouse burnt to the ground, my product is all gone, my customers are leaving, and I am losing everything!”
The minister told him, “You can find all the answers to your problems in the Bible.”
The guy asked, “Where should I start?”
The minister answered, “If you do not know where to look, just open the book and place your finger on the page, and start right there. Sooner or later you will find your answers.”
He opened the Bible to a spot, looked down, and found his answer staring him right in the face - “Chapter 11.”
“Pin money.” Front-hall-closet-top-shelf-cigar-box-money.
We send this much to Ukraine evey few weeks.
Quick! Tax something!!
Consequences for the Covid reaction. Let them go bankrupt.
A great time to reduce costs. Terminate any who won’t return to their assigned office space and don’t replace them. Every government employee needs “eyes on” supervision and working from home doesn’t do it. Our government payroll is bloated and must be reduced - including the Pentagon.
Maybe those commercial landlords can get loans from Ukraine.
We all saw this coming.
Sounds like the President needs to declare a moratorium on those mortgage payments and then declare debt forgiveness for the debts.
The Seagram building is a famous Ludwig Mies van der Rohe building from the ‘50s. It is undoubtedly restricted from modifications as a landmark, and it likely is hard to remodel to suit current office space designs.
When offices closed in 2020 I predicted it would take 3 to 5 years to trickle down into this mess.
Banks are going to fail. Let’s just hope they don’t bundle the bad paper into securities like with home mortgages in 2008.
The office building owners should get them rezoned and turn them into apartments or hotels.
So much for the soft landing in the market.
Clean up on Wall street.